PNC Financial Services Group Inc. Raises Stock Holdings in Fair Isaac Corporation (NYSE:FICO)

PNC Financial Services Group Inc. lifted its stake in shares of Fair Isaac Corporation (NYSE:FICO) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,004 shares of the technology company’s stock after acquiring an additional 172 shares during the period. PNC Financial Services Group Inc.’s holdings in Fair Isaac were worth $5,540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FICO. Pinnacle Holdings LLC acquired a new stake in Fair Isaac during the fourth quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Fair Isaac in the first quarter valued at $30,000. Meeder Asset Management Inc. increased its stake in Fair Isaac by 41.7% in the first quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company’s stock valued at $31,000 after purchasing an additional 5 shares during the last quarter. Colonial Trust Co SC lifted its position in Fair Isaac by 71.4% during the fourth quarter. Colonial Trust Co SC now owns 24 shares of the technology company’s stock worth $48,000 after buying an additional 10 shares during the period. Finally, Mechanics Financial Corp purchased a new position in Fair Isaac during the first quarter worth about $46,000. Hedge funds and other institutional investors own 85.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird upgraded shares of Fair Isaac from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $2,021.00 to $1,900.00 in a report on Wednesday, May 28th. Jefferies Financial Group restated a “buy” rating on shares of Fair Isaac in a report on Thursday, July 17th. Bank of America initiated coverage on Fair Isaac in a research note on Thursday, April 10th. They set a “buy” rating and a $2,800.00 target price for the company. Needham & Company LLC dropped their price target on shares of Fair Isaac from $2,575.00 to $1,950.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Oppenheimer decreased their price target on Fair Isaac from $2,300.00 to $1,953.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fair Isaac presently has a consensus rating of “Buy” and a consensus price target of $2,163.14.

Fair Isaac Trading Up 3.5%

Shares of NYSE FICO opened at $1,390.21 on Thursday. Fair Isaac Corporation has a 12-month low of $1,336.03 and a 12-month high of $2,402.51. The company has a market cap of $33.36 billion, a price-to-earnings ratio of 54.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28. The stock’s 50 day simple moving average is $1,673.40 and its 200 day simple moving average is $1,800.41.

Fair Isaac (NYSE:FICO) last posted its earnings results on Wednesday, July 30th. The technology company reported $8.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.75 by $0.82. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%. The company had revenue of $536.42 million for the quarter, compared to analysts’ expectations of $520.40 million. During the same period last year, the business posted $6.25 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts forecast that Fair Isaac Corporation will post 24.15 earnings per share for the current fiscal year.

Fair Isaac declared that its board has initiated a stock buyback program on Thursday, June 19th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at Fair Isaac

In other Fair Isaac news, Director Marc F. Mcmorris sold 797 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $2,087.50, for a total value of $1,663,737.50. Following the completion of the transaction, the director owned 242 shares in the company, valued at approximately $505,175. This represents a 76.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William J. Lansing sold 3,811 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $1,565.99, for a total transaction of $5,967,987.89. Following the completion of the sale, the chief executive officer owned 44,338 shares in the company, valued at $69,432,864.62. The trade was a 7.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,829 shares of company stock worth $36,836,320 in the last ninety days. 3.46% of the stock is owned by insiders.

About Fair Isaac

Fair Isaac Corporation develops analytic, software, and digital decisioning technologies and services that enable businesses to automate, enhance, and connect decisions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Scores and Software. The Software segment provides pre-configured analytic and decision management solution designed for various business needs or processes, such as account origination, customer management, customer engagement, fraud detection, financial crimes compliance, and marketing, as well as associated professional services.